Categories: Business

Australian grocer Coles posts 3.9% rise in first-quarter sales revenue

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TDG Syndication

(Reuters) -Australia's Coles Group reported a 3.9% rise in first-quarter sales revenue on Thursday, driven by a double-digit growth in e-commerce sales that boosted its supermarket division earnings. Along with its bigger rival Woolworths, Coles has been actively expanding its range of cost-effective products to lure back value-conscious customers who are on the hunt for bargain deals, powering a 27.9% growth in the latter's e-commerce sales.   The country's second-largest grocer posted total group sales revenue of A$10.96 billion ($7.12 billion) for the quarter, compared with A$10.55 billion reported a year earlier. Its supermarkets unit reported a 4.8% rise in quarterly sales revenue to A$9.97 billion.  ($1 = 1.5389 Australian dollars) (Reporting by Sneha Kumar and Rajasik Mukherjee in Bengaluru; Editing by Anil D'Silva) (The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)
TDG Syndication
Published by TDG Syndication